Bank of America (BAC) Stock Inflation-Adjusted

Bank of America Corp (BAC) is a global financial institution, providing a wide range of banking, investing, asset management and other financial and risk management products and services.

A stock's price history shows its nominal performance but not its real growth in purchasing power. To understand an investment's true performance, we must account for inflation. This page adjusts Bank of America's historical stock prices using the US Consumer Price Index, stripping away the effects of inflation.

Nominal prices are adjusted for stock splits and assume reinvestment of any dividends to reflect total return. Inflation-adjusted prices use June 2025 as the baseline (latest available CPI).

The current value of Bank of America stock is 46.15 (as of the close of Jul 15, 2025), 5.68% lower than the all-time high of 48.93 (Jul 3, 2025).

While the nominal high reached 48.93, the inflation-adjusted peak value was 60.79 on November 20, 2006.

Since February 21, 1973, the inflation-adjusted total return for the stock has been 106.38%, which is equivalent to an annual growth rate of 1.39%.

In nominal values, the total return since this date has been 1,452%, or an annualized rate of 5.37%.

Inflation-Adjusted Values by Month

This data presents Bank of America's end-of-month closing levels over time. Inflation-adjusted figures show what past levels would be worth using roughly today's purchasing power (based on the latest CPI data). The latest entry in the table will have equal nominal and adjusted values until the next CPI figures are released.

Date Inflation-Adjusted Nominal value
Jul 2025 46.15 46.15
Jun 2025 47.32 47.32
May 2025 44.28 44.13
Apr 2025 40.1 39.88
Mar 2025 42.09 41.73
Feb 2025 46.31 45.81
Jan 2025 46.72 46.01
Dec 2024 44.64 43.68
Nov 2024 48.01 46.95
Oct 2024 42.23 41.33
Sep 2024 40.12 39.22
Aug 2024 41 40.01
Jul 2024 40.59 39.58
Jun 2024 40.09 39.05
May 2024 40.09 39.03
Apr 2024 37.16 36.12
Mar 2024 38.22 37.01
Feb 2024 35.02 33.69
Jan 2024 34.48 32.96
Dec 2023 34.32 32.63
Nov 2023 31.05 29.55
Oct 2023 26.56 25.33
Sep 2023 27.59 26.33
Aug 2023 28.97 27.57
Jul 2023 32.47 30.77
Jun 2023 29.17 27.59
May 2023 28.12 26.51
Apr 2023 29.7 27.94
Mar 2023 29.16 27.29
Feb 2023 34.86 32.52
Jan 2023 36.26 33.63
Dec 2022 34.12 31.4
Nov 2022 38.65 35.67
Oct 2022 36.77 33.97
Sep 2022 30.93 28.46
Aug 2022 34.28 31.47
Jul 2022 34.47 31.66
Jun 2022 31.73 29.15
May 2022 38.22 34.63
Apr 2022 37.06 33.22
Mar 2022 43.06 38.38
Feb 2022 46.56 40.95
Jan 2022 49.05 42.75
Dec 2021 47.69 41.22
Nov 2021 47.59 41.01
Oct 2021 51.38 44.06
Sep 2021 46.03 39.14
Aug 2021 45.16 38.3
Jul 2021 41.58 35.19
Jun 2021 44.91 37.83
May 2021 46.41 38.73
Apr 2021 44.73 37.03
Mar 2021 43.05 35.35
Feb 2021 38.7 31.56
Jan 2021 33.24 26.96
Dec 2020 34.12 27.56
Nov 2020 31.54 25.44
Oct 2020 26.53 21.41
Sep 2020 26.97 21.77
Aug 2020 28.66 23.1
Jul 2020 27.79 22.33
Jun 2020 26.67 21.31
May 2020 27.04 21.49
Apr 2020 26.96 21.43
Mar 2020 23.64 18.92
Feb 2020 31.47 25.24
Jan 2020 36.35 29.07
Dec 2019 39.15 31.19
Nov 2019 36.8 29.35
Oct 2019 34.52 27.54
Sep 2019 32.28 25.69
Aug 2019 30.26 24.07
Jul 2019 33.75 26.85
Jun 2019 31.96 25.38
May 2019 29.16 23.15
Apr 2019 33.59 26.61
Mar 2019 30.47 24.01
Feb 2019 32.3 25.31
Jan 2019 31.59 24.65
Dec 2018 27.39 21.34
Nov 2018 31.3 24.46
Oct 2018 30.21 23.68
Sep 2018 32.42 25.37
Aug 2018 33.91 26.51
Jul 2018 33.87 26.47
Jun 2018 30.93 24.16
May 2018 31.91 24.89
Apr 2018 32.88 25.54
Mar 2018 33.09 25.6
Feb 2018 35.36 27.3
Jan 2018 35.41 27.21
Dec 2017 32.85 25.1
Nov 2017 31.33 23.96
Oct 2017 30.33 23.19
Sep 2017 28.04 21.46
Aug 2017 26.58 20.23
Jul 2017 26.78 20.32
Jun 2017 26.91 20.44
May 2017 24.88 18.88
Apr 2017 25.85 19.6
Mar 2017 26.21 19.81
Feb 2017 27.36 20.66
Jan 2017 25.18 18.95
Dec 2016 24.72 18.5
Nov 2016 23.63 17.68
Oct 2016 18.37 13.76
Sep 2016 17.44 13.05
Aug 2016 18.03 13.46
Jul 2016 16.13 12.03
Jun 2016 14.75 11.02
May 2016 16.43 12.24
Apr 2016 16.24 12.05
Mar 2016 15.15 11.19
Feb 2016 14.04 10.32
Jan 2016 15.87 11.66
Dec 2015 18.92 13.87
Nov 2015 19.47 14.33
Oct 2015 18.71 13.79
Sep 2015 17.36 12.81
Aug 2015 18.12 13.39
Jul 2015 19.8 14.65
Jun 2015 18.85 13.95
May 2015 18.28 13.48
Apr 2015 17.74 13.01
Mar 2015 17.18 12.57
Feb 2015 17.69 12.88
Jan 2015 17.03 12.34
Dec 2014 20.02 14.57
Nov 2014 18.9 13.84
Oct 2014 18.93 13.94
Sep 2014 18.76 13.85
Aug 2014 17.67 13.03
Jul 2014 16.72 12.35
Jun 2014 16.84 12.44
May 2014 16.61 12.25
Apr 2014 16.67 12.25
Mar 2014 19 13.92
Feb 2014 18.36 13.37
Jan 2014 18.68 13.54
Dec 2013 17.43 12.59
Nov 2013 17.69 12.78
Oct 2013 15.59 11.29
Sep 2013 15.36 11.15
Aug 2013 15.73 11.4
Jul 2013 16.28 11.79
Jun 2013 14.34 10.38
May 2013 15.26 11.02
Apr 2013 13.78 9.93
Mar 2013 13.62 9.83
Feb 2013 12.59 9.06
Jan 2013 12.78 9.13
Dec 2012 13.15 9.36
Nov 2012 11.13 7.94
Oct 2012 10.47 7.51
Sep 2012 9.91 7.11
Aug 2012 9 6.43
Jul 2012 8.31 5.9
Jun 2012 9.25 6.58
May 2012 8.3 5.91
Apr 2012 9.13 6.51
Mar 2012 10.81 7.69
Feb 2012 9.07 6.4
Jan 2012 8.14 5.72
Dec 2011 6.38 4.46
Nov 2011 6.22 4.36
Oct 2011 7.79 5.47
Sep 2011 6.97 4.9
Aug 2011 9.31 6.54
Jul 2011 11.09 7.77
Jun 2011 12.53 8.76
May 2011 13.4 9.39
Apr 2011 14.07 9.81
Mar 2011 15.37 10.65
Feb 2011 16.63 11.41
Jan 2011 16.06 10.96
Dec 2010 15.68 10.65
Nov 2010 12.88 8.74
Oct 2010 13.47 9.13
Sep 2010 15.43 10.45
Aug 2010 14.67 9.93
Jul 2010 16.56 11.19
Jun 2010 16.95 11.45
May 2010 18.54 12.54
Apr 2010 21.01 14.2
Mar 2010 21.07 14.22
Feb 2010 19.74 13.26
Jan 2010 17.99 12.08
Dec 2009 17.91 11.99
Nov 2009 18.8 12.61
Oct 2009 17.31 11.6
Sep 2009 20.11 13.46
Aug 2009 20.9 13.99
Jul 2009 17.61 11.76
Jun 2009 15.7 10.5
May 2009 13.5 8.95
Apr 2009 10.73 7.09
Mar 2009 8.22 5.42
Feb 2009 4.76 3.13
Jan 2009 7.96 5.21
Dec 2008 17.12 11.15
Nov 2008 19.12 12.59
Oct 2008 27.9 18.73
Sep 2008 39.99 27.12
Aug 2008 34.85 23.67
Jul 2008 36.67 25.01
Jun 2008 26.75 18.14
May 2008 37.76 25.36
Apr 2008 42.04 28
Mar 2008 42.71 28.27
Feb 2008 44.42 29.15
Jan 2008 49.5 32.39
Dec 2007 46.49 30.27
Nov 2007 51.21 33.37
Oct 2007 53.91 34.92
Sep 2007 56.25 36.36
Aug 2007 56.16 36.2
Jul 2007 52.46 33.87
Jun 2007 54.07 34.92
May 2007 56.19 36.22
Apr 2007 56.13 35.97
Mar 2007 56.63 36.05
Feb 2007 56.93 35.92
Jan 2007 58.56 36.75
Dec 2006 59.64 37.31
Nov 2006 60.25 37.64
Oct 2006 59.57 37.27
Sep 2006 58.91 37.06
Aug 2006 56.33 35.61
Jul 2006 55.9 35.27
Jun 2006 52.34 32.92
May 2006 52.77 33.13
Apr 2006 54.14 33.82
Mar 2006 49.81 30.85
Feb 2006 49.88 30.73
Jan 2006 48.22 29.64
Dec 2005 50.69 30.93
Nov 2005 50.2 30.75
Oct 2005 46.96 29
Sep 2005 45.29 27.92
Aug 2005 46.86 28.53
Jul 2005 47.18 28.58
Jun 2005 49.58 29.9
May 2005 49.89 30.07
Apr 2005 48.46 29.24
Mar 2005 47.77 28.63
Feb 2005 50.45 30
Jan 2005 50.43 29.82
Dec 2004 51.22 30.22
Nov 2004 50.25 29.75
Oct 2004 48.66 28.8
Sep 2004 47.33 27.86
Aug 2004 49.23 28.92
Jul 2004 46.55 27.33
Jun 2004 46.26 27.21
May 2004 45.59 26.73
Apr 2004 44.4 25.88
Mar 2004 44.81 26.04
Feb 2004 45.63 26.34
Jan 2004 45.62 26.19
Dec 2003 45.26 25.86
Nov 2003 42.4 24.25
Oct 2003 42.45 24.35
Sep 2003 43.7 25.09
Aug 2003 44.52 25.48
Jul 2003 46.56 26.55
Jun 2003 44.62 25.41
May 2003 41.94 23.86
Apr 2003 41.78 23.81
Mar 2003 37.63 21.49
Feb 2003 39.22 22.26
Jan 2003 39.98 22.52
Dec 2002 39.88 22.37
Nov 2002 40.09 22.53
Oct 2002 39.93 22.44
Sep 2002 36.56 20.51
Aug 2002 40.22 22.53
Jul 2002 38.29 21.38
Jun 2002 40.56 22.62
May 2002 43.73 24.37
Apr 2002 41.81 23.3
Mar 2002 39.45 21.87
Feb 2002 37.3 20.56
Jan 2002 36.91 20.26
Dec 2001 36.95 20.24
Nov 2001 35.88 19.73
Oct 2001 34.43 18.97
Sep 2001 33.97 18.78
Aug 2001 35.93 19.77
Jul 2001 37.17 20.45
Jun 2001 34.98 19.3
May 2001 34.58 19.05
Apr 2001 32.83 18
Mar 2001 32.22 17.6
Feb 2001 29.91 16.3
Jan 2001 31.88 17.3
Dec 2000 27.34 14.75
Nov 2000 23.79 12.84
Oct 2000 28.65 15.45
Sep 2000 31.27 16.84
Aug 2000 32.16 17.23
Jul 2000 28.43 15.23
Jun 2000 25.87 13.83
May 2000 33.52 17.82
Apr 2000 29.67 15.75
Mar 2000 31.76 16.86
Feb 2000 28.1 14.79
Jan 2000 29.76 15.57
Dec 1999 30.93 16.14
Nov 1999 36.12 18.84
Oct 1999 39.73 20.72
Sep 1999 34.4 17.9
Aug 1999 37.55 19.45
Jul 1999 41.29 21.34
Jun 1999 45.75 23.57
May 1999 40.36 20.8
Apr 1999 44.65 23.01
Mar 1999 44.39 22.71
Feb 1999 41.18 21
Jan 1999 42.21 21.5
Dec 1998 38.04 19.33
Nov 1998 41.22 20.96
Oct 1998 36.36 18.49
Sep 1998 33.91 17.2
Aug 1998 36.49 18.49
Jul 1998 50.68 25.64
Jun 1998 48.79 24.66
May 1998 48.1 24.27
Apr 1998 48.5 24.43
Mar 1998 46.63 23.45
Feb 1998 43.88 22.02
Jan 1998 38.43 19.25
Dec 1997 39.1 19.55
Nov 1997 38.57 19.31
Oct 1997 38.38 19.23
Sep 1997 39.81 19.89
Aug 1997 38.54 19.21
Jul 1997 46 22.89
Jun 1997 41.77 20.76
May 1997 38.14 18.93
Apr 1997 39.08 19.41
Mar 1997 35.97 17.84
Feb 1997 38.99 19.29
Jan 1997 35.24 17.38
Dec 1996 31.96 15.71
Nov 1996 33.88 16.66
Oct 1996 30.87 15.15
Sep 1996 28.55 13.97
Aug 1996 28.06 13.68
Jul 1996 28.4 13.83
Jun 1996 27.34 13.28
May 1996 26.86 13.04
Apr 1996 26.5 12.84
Mar 1996 26.68 12.88
Feb 1996 24.69 11.86
Jan 1996 23.47 11.23
Dec 1995 23.52 11.19
Nov 1995 24.14 11.49
Oct 1995 22.18 10.57
Sep 1995 22.76 10.81
Aug 1995 20.81 9.87
Jul 1995 19.08 9.02
Jun 1995 18.23 8.62
May 1995 19.29 9.1
Apr 1995 17.07 8.04
Mar 1995 17.38 8.16
Feb 1995 17.14 8.02
Jan 1995 16.09 7.5
Dec 1994 15.63 7.25
Nov 1994 15.54 7.21
Oct 1994 17.17 7.96
Sep 1994 17.01 7.88
Aug 1994 19.4 8.96
Jul 1994 19.48 8.96
Jun 1994 18 8.26
May 1994 19.47 8.9
Apr 1994 18.38 8.4
Mar 1994 16.12 7.35
Feb 1994 17.28 7.86
Jan 1994 18 8.16
Dec 1993 17.43 7.88
Nov 1993 16.76 7.58
Oct 1993 16.59 7.5
Sep 1993 18.4 8.28
Aug 1993 18.44 8.28
Jul 1993 18.09 8.1
Jun 1993 17.82 7.98
May 1993 16.95 7.58
Apr 1993 17.87 7.98
Mar 1993 19.73 8.78
Feb 1993 19.39 8.6
Jan 1993 19.55 8.64
Dec 1992 18.77 8.26
Nov 1992 18.4 8.1
Oct 1992 16.91 7.43
Sep 1992 16.28 7.13
Aug 1992 15.78 6.89
Jul 1992 16.98 7.39
Jun 1992 17.61 7.66
May 1992 17.26 7.48
Apr 1992 17.75 7.68
Mar 1992 16.94 7.31
Feb 1992 17.77 7.64
Jan 1992 16.47 7.05
Dec 1991 15.28 6.53
Nov 1991 12.94 5.53
Oct 1991 14.11 6.01
Sep 1991 13.46 5.73
Aug 1991 14.66 6.21
Jul 1991 13.23 5.59
Jun 1991 13.63 5.75
May 1991 16.11 6.77
Apr 1991 14.14 5.93
Mar 1991 13.3 5.57
Feb 1991 11.25 4.7
Jan 1991 10.83 4.52
Dec 1990 8.87 3.68
Nov 1990 9.3 3.86
Oct 1990 6.7 2.77
Sep 1990 8.35 3.44
Aug 1990 12.86 5.24
Jul 1990 14.27 5.77
Jun 1990 14.97 6.03
May 1990 15.55 6.23
Apr 1990 15.29 6.11
Mar 1990 15.61 6.23
Feb 1990 18.03 7.15
Jan 1990 17.09 6.75
Dec 1989 19.02 7.43
Nov 1989 19.31 7.54
Oct 1989 19.51 7.6
Sep 1989 21.78 8.44
Aug 1989 21.69 8.38
Jul 1989 22.3 8.6
Jun 1989 18.91 7.27
May 1989 19.63 7.54
Apr 1989 15.32 5.85
Mar 1989 15.05 5.71
Feb 1989 14.13 5.33
Jan 1989 12.85 4.82
Dec 1988 11.73 4.38
Nov 1988 11.58 4.32
Oct 1988 12.29 4.58
Sep 1988 12.17 4.52
Aug 1988 11.66 4.3
Jul 1988 10.23 3.76
Jun 1988 10.66 3.9
May 1988 9.6 3.5
Apr 1988 9.13 3.32
Mar 1988 8.79 3.17
Feb 1988 9.95 3.58
Jan 1988 9.36 3.36
Dec 1987 7.75 2.77
Nov 1987 7.98 2.85
Oct 1987 8.26 2.95
Sep 1987 10.99 3.92
Aug 1987 12.35 4.38
Jul 1987 11.33 4
Jun 1987 11.82 4.16
May 1987 10.77 3.78
Apr 1987 10.87 3.8
Mar 1987 11.68 4.06
Feb 1987 11.56 4
Jan 1987 11.19 3.86
Dec 1986 10.09 3.46
Nov 1986 10.22 3.5
Oct 1986 10.4 3.56
Sep 1986 10.65 3.64
Aug 1986 12.05 4.1
Jul 1986 11.28 3.83
Jun 1986 12.79 4.34
May 1986 13.21 4.46
Feb 1986 12.19 4.13
Mar 1982 3.74 1.1
Dec 1978 4.36 0.91
Oct 1976 4.42 0.79
Aug 1975 5.37 0.9
Apr 1975 5.45 0.89
May 1973 21.04 2.86
Apr 1973 21.26 2.87
Mar 1973 22.6 3.03
Feb 1973 22.36 2.97

Returns from Investing in Bank of America stock

How much did an investment in Bank of America really grow each year after accounting for inflation? The following chart contains the inflation-adjusted real annual percentage returns.

Detailed Annual Returns (Adjusted vs. Nominal)

The table below shows the returns for Bank of America stock by year, both inflation-adjusted and nominal. You can sort any column by clicking on the header.

Observe how inflation erodes nominal gains, sometimes resulting in a negative real return even when the stock price nominally increased, as in 2005.

Year Inflation-Adjusted Return Nominal Return
2024 30.08% 33.83%
2023 0.57% 3.94%
2022 -28.45% -23.83%
2021 39.76% 49.6%
2020 -12.84% -11.65%
2019 42.91% 46.17%
2018 -16.6% -15%
2017 32.87% 35.68%
2016 30.65% 33.36%
2015 -5.47% -4.78%
2014 14.86% 15.73%
2013 32.52% 34.51%
2012 106.23% 109.82%
2011 -59.33% -58.12%
2010 -12.47% -11.16%
2009 4.63% 7.48%
2008 -63.18% -63.15%
2007 -22.06% -18.88%
2006 17.66% 20.65%
2005 -1.02% 2.36%
2004 13.16% 16.85%
2003 13.48% 15.61%
2002 7.95% 10.52%
2001 35.12% 37.22%
2000 -11.59% -8.59%
1999 -18.71% -16.53%
1998 -2.7% -1.13%
1997 22.34% 24.42%
1996 35.88% 40.39%
1995 50.47% 54.29%
1994 -10.31% -7.91%
1993 -7.17% -4.62%
1992 22.9% 26.46%
1991 72.32% 77.6%
1990 -53.39% -50.54%
1989 62.19% 69.72%
1988 51.29% 57.97%
1987 -23.17% -19.77%
1986 212.17% 215.6%
1982 15.36% 19.78%
1978 5.66% 15.19%
1976 -16.29% -12.22%
1975 -70.47% -68.42%

Bank Of America Stock: Average Annualized Returns

Annualized returns show the average rate of growth per year, making it easier to compare performance across different time periods. While nominal returns indicate the headline growth, adjusting for inflation reveals the actual change in purchasing power.

This table presents both nominal and inflation-adjusted average annual returns for Bank of America over various trailing periods ending June 30, 2025, offering a clearer view of long-term, real investment performance.

Period Avg. Annual Return (Inflation-Adjusted) Avg. Annual Return (Nominal)
Last 1 year 18.02% 21.17%
Last 3 years 14.25% 17.53%
Last 5 years 12.16% 17.3%
Last 10 years 9.64% 12.99%
Last 20 years -0.23% 2.32%
Last 30 years 3.23% 5.84%

Real Returns of Investing in the Bank of America

The chart and table below show the nominal and inflation-adjusted value of a hypothetical $100 investment over various long-term historical periods, ending in June 2025.

The inflation-adjusted line, in green, represents the real increase in purchasing power for the initial investment. Observe the gap between both lines, which illustrates the cumulative effect of inflation over time.

Even over just five years, inflation takes a noticeable bite out of investments. Investing $100 in the Bank of America five years ago yielded an 87.5% nominal gain, but the real return (the actual increase in buying power) was 50.36%.

As investment periods get longer, the difference between reported nominal returns and the inflation-adjusted gains usually becomes much greater due to the compounding effect of inflation over time.

Investment Period What $100 Grew To (Nominal) Total Nominal Return (%) Total Inflation-Adjusted Return (%)
Last 5 years Feb 2020 - Jun 2025 $187.5 87.5% 50.36%
Last 10 years Feb 2015 - Jun 2025 $367.5 267.5% 167.42%
Last 25 years Feb 2000 - Jun 2025 $319.95 219.95% 68.43%
Last 50 years Apr 1975 - Jun 2025 $5,291.83 5,192% 767.86%

Inflation & Bank of America's Operations

As a major financial institution, Bank of America's performance is intricately linked to inflation and interest rate dynamics.

  • Interest Rate Sensitivity: In response to inflation, central banks often raise interest rates. This can widen the spread between the interest Bank of America earns on loans and what it pays on deposits, potentially boosting net interest income.
  • Loan Demand: High inflation can dampen economic activity, leading to reduced demand for loans from both consumers and businesses.
  • Operating Costs: Wage inflation and other rising operational costs can impact the bank's efficiency and profitability.

Bank of America manages inflation risks through sophisticated hedging strategies and by adjusting its lending and investment portfolios in response to changing economic conditions. Its diversified business model, spanning consumer banking, wealth management and investment banking, also provides resilience.

About Bank of America

Bank of America is one of the largest financial institutions in the world, with a history dating back to 1904.

It serves a diverse client base, from individual consumers to large corporations, through its various divisions: Consumer Banking, Global Wealth & Investment Management, Global Banking and Global Markets.

Headquartered in Charlotte, North Carolina, Bank of America is a systemically important financial institution and a major component of the S&P 500 index.

Last Close
Jul 15, 2025
46.15
Highest
Jul 3, 2025
48.93
Highest, Inflation-Adjusted
Nov 20, 2006
60.79
Annualized return
Since Feb 21, 1973
5.37%
Annualized return, Inflation-Adjusted
Since Feb 21, 1973
1.39%

More in Stocks

Other Inflation-Adjusted Data